Bloomberg News

Colombian Stock Movers: Grupo Aval, Corficolombiana, Ecopetrol

March 02, 2012

The following companies are having unusual price changes in Bogota trading. Stock symbols are in parentheses and prices are as of 10:03 a.m. local time.

The IGBC Index (IGBC) gained 0.3 percent to 15,209.50, while the Colcap Index rose 0.2 percent to 1,744.66.

Corp. Financiera Colombiana SA (CORFICOL) , the financial-services and holding company with investments in the construction industry, rose 0.2 percent to 33,980 pesos.

Profit last year rose 9.7 percent from a year ago to 588 billion pesos ($331 million), according to an e-mailed statement yesterday.

Ecopetrol SA (ECOPETL) , Colombia’s largest oil company, fell 0.8 percent to 5,240 pesos. The first phase of the Bicentennial pipeline in the Arauca region was delayed by two months and will come online as soon as July amid weather and security issues, according to an interview with Chief Executive Officer Javier Gutierrez today in the daily Portafolio.

Colombia’s authorities extended into a third day a search for workers kidnapped during development of the pipeline.

Grupo Aval Acciones y Valores SA (PFAVAL CB), Colombia’s biggest banking group by assets, gained 2.4 percent to 1,260 pesos. Aval proposed a 2012 dividend payment of 3.6 pesos per share per month from April through September, according to a regulatory filing yesterday. The annualized dividend would be 3.5 percent, Correval SA said in an e-mailed report today.

To contact the reporter on this story: Blake Schmidt in Bogota at

To contact the editor responsible for this story: David Papadopoulos at

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